Paramount Launches Hostile Bid to Acquire Warner Bros. Discovery

Last week, it was reported that Netflix would be buying a chunk of Warner Bros. Discovery. Netflix had won a bidding war with Comcast & Paramount and started the process of purchasing the studio & streaming service division of the company.

Netflix’s plans may be for naught. CNBC reported this morning that Paramount is launching a hostile bid for WBD and its assets. While other suitors like Netflix & Comcast were only interested in studio & streaming, leaving the other assets like cable stations under the WBD umbrella, Paramount has expressed interest in purchasing the entire company.

Paramount will reportedly extend an all-cash $30 per share offer to Warner Bros. Discovery shareholders. CNBC reports that Paramount made this offer last week but was turned down by WBD representatives involved in negotiations. Now Paramount is seeking an answer from a larger audience. Paramount says that keeping the Warner Bros. Discovery assets together would be best for the company as a whole. It’s also been noted that Paramount has a positive relationship with the US government at this time. Antitrust concerns have already been put out there by folks associated with and against the Trump Administration.

Speculation has been rife amongst wrestling fans since the Netflix offer was announced last week. Paramount does have a relationship with TKO, as UFC will be streaming their events on Paramount+ starting January 26. It’s unclear at this time if Paramount’s relationship with TKO via UFC would affect AEW’s position on TNT & TBS if Paramount was to acquire the two networks.